MoRTH sets confident target of 13,800 km national highways in FY23-24

10 Jan 2024 CW Team

As of November 30, 2023, the ministry has already constructed 5,248 km of national highways, surpassing the corresponding period of the previous year, which recorded 4,766 km. Jain highlighted the ministry's focus on awarding more highway construction projects under the build-operate-transfer (BOT) and hybrid annuity model (HAM) over the toll-operate-transfer (TOT) model due to the observed better quality of construction in projects awarded under HAM and BOT.

He emphasised that the National Highways Authority of India (NHAI) and MoRTH are working to expedite the process of awarding projects in the fiscal year 2023-24. The goal is to award 10,000 km of national highway projects during this period, with an emphasis on companies preparing detailed project reports (DPR) for identified projects to accelerate the awarding process.

Jain also disclosed that MoRTH has submitted a proposal to the Ministry of Home Affairs, suggesting an online reporting mechanism for truck drivers to report accidents and avoid penalties under the new stringent laws on hit-and-run cases. The proposal is currently under consideration by the home ministry.

Despite the ambitious targets, MoRTH and NHAI have faced challenges in meeting national highway construction goals in the past, including in six of the last ten years. However, Jain highlighted the significant increase in the pace of national highway expansion under the current government compared to previous administrations.

As of November 30, 2023, the total Gross Budget Support (GBS) outlay for the Ministry in the current fiscal year stood at Rs 2.58 trillion. The ministry has already spent 66% (Rs 1.69 trillion) of the total amount, indicating a steady expenditure trend throughout the fiscal year, with incremental increases reported in October and September.

On January 5, Anurag Jain, the Secretary of the Ministry of Road Transport and Highways (MoRTH), expressed confidence in achieving the construction of 13,800 km of national highways during the fiscal year 2023-24. Jain, during a press conference for the year-end review, stated that the progress in highway construction has surpassed that of the previous year, and the ministry is optimistic about reaching the target. As of November 30, 2023, the ministry has already constructed 5,248 km of national highways, surpassing the corresponding period of the previous year, which recorded 4,766 km. Jain highlighted the ministry's focus on awarding more highway construction projects under the build-operate-transfer (BOT) and hybrid annuity model (HAM) over the toll-operate-transfer (TOT) model due to the observed better quality of construction in projects awarded under HAM and BOT. He emphasised that the National Highways Authority of India (NHAI) and MoRTH are working to expedite the process of awarding projects in the fiscal year 2023-24. The goal is to award 10,000 km of national highway projects during this period, with an emphasis on companies preparing detailed project reports (DPR) for identified projects to accelerate the awarding process. Jain also disclosed that MoRTH has submitted a proposal to the Ministry of Home Affairs, suggesting an online reporting mechanism for truck drivers to report accidents and avoid penalties under the new stringent laws on hit-and-run cases. The proposal is currently under consideration by the home ministry. Despite the ambitious targets, MoRTH and NHAI have faced challenges in meeting national highway construction goals in the past, including in six of the last ten years. However, Jain highlighted the significant increase in the pace of national highway expansion under the current government compared to previous administrations. As of November 30, 2023, the total Gross Budget Support (GBS) outlay for the Ministry in the current fiscal year stood at Rs 2.58 trillion. The ministry has already spent 66% (Rs 1.69 trillion) of the total amount, indicating a steady expenditure trend throughout the fiscal year, with incremental increases reported in October and September.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..